Boehner Bill Markup Vote Scheduled

October 1, 2001(PLANSPONSOR.com) -This week the
House Education & the Workforce Committee will conduct
its markup on the so-called "Boehner?" bill, which attempts
to broaden worker access to professional investment
advice.

expand the ability of
providers to enter the investment advice arena by
diminishing the impact of ERISA rules that today
effectively block a money manager from offering advice,
for a fee, on assets it manages. Specific disclosures
about the fees, services and the relationship of the
provider to the investment fund choices would be
offered to participants.

Hold designated “fiduciary
advisers” personally liable for any failure to act in
the worker’s interest, and will still be subject to
fiduciary liability under ERISA, as well as securities
and state insurance regulatory protections.